Will the digital currency depreciate in the economic crisis
Publish: 2021-03-24 16:35:05
1. What is the Plaza Agreement? The simplest, intuitive and logical expression is: in the 1980s, the US economy recovered, the US dollar rose, and a large number of foreign procts, especially those from Japan and Germany, were imported into the US. As a result, the American people believe that foreign procts crowd out the domestic market of the United States, depriving Americans of employment opportunities that "should" belong to the United States, leading to a significant increase in the unemployment rate in the United States. Similar reasoning formed great pressure on the Reagan administration through public opinion and Congress. They had to invite the financial heads of the world's five major economies (G5, the United States, Japan, Federal Republic of Germany, France and the United Kingdom) to New York to persuade them to work together for the depreciation of the US dollar. The understanding finance ministers of the five countries immediately agreed and issued a joint statement, namely "Plaza Agreement"
a few hours after the announcement, the US dollar began a crazy devaluation process. The international foreign exchange market began to sell the US dollar crazily. It lasted for two years, but there was no sign of stopping. As a result, these five great gentlemen (or their successors) had to meet again to discuss measures to prevent the US dollar from falling further. This is the Louvre agreement reached in 1987, and that's later
after the Plaza Agreement, the yen and mark began to appreciate significantly. Since the floating exchange rate system was implemented in 1971, the dollar began to depreciate against the mark and yen. After entering the 1980s, the US dollar strengthened steadily. This chronic rising trend was interrupted again in the middle of 1985, and the yen and mark began to appreciate sharply again. In about three years after 1985, the dollar depreciated sharply. The mark's appreciation has returned to the level of the early 1980s, while the yen has risen to a post-war all-time high. This is an important reason why the yen has become the focus of the Plaza Agreement
the side effects of "Plaza Agreement" and yen appreciation
firstly, yen appreciation has raised the cost and price of Japanese procts. In the past, Japanese procts, which once dominated the world market with high quality and low price, all of a sudden became "aristocrats" in the commodity world. Although the appreciation of the yen has little impact on the export of those irreplaceable procts, a considerable part of Japan's exports can be replaced. The appreciation of Japanese yen will restrain the demand for such procts in the international market, thus hitting the enterprises procing such procts. This kind of attack will spread to other instries through the instrial chain, and may even form a comprehensive inhibition on Japan's economic growth. This is the "yen appreciation depression" that the Japanese government is worried about
secondly, the appreciation of yen reces the import price of Japan. Although this can make Japan, which is short of resources, exchange less expenditure for needed resources, cheap foreign manufactured goods also flow into Japan at the same time, impacting the original instrial structure of Japan. The most affected instries are those labor-intensive instries which are not high-tech but are of great significance to maintaining employment
thirdly, the sharp appreciation of yen has aroused the interest of international speculative capital, making yen the target of speculative capital. Since then, the ups and downs of the yen exchange rate and the turmoil of Japan's stock market have led to the rise and fall of international speculative capital. This has brought new factors of instability to the Japanese economy< The relationship between yen appreciation and Japan's bubble economy after br / > four and "Plaza Accord" is
many research results show that the root cause of Japan's bubble economy is in Japan. These reasons include: after the end of catch-up economic growth, it failed to take the initiative to transform to independent development economic growth, and the system and system were aging; Macroeconomic policy mistakes, the original structure of the economic development has been saturated, but artificially stimulate prosperity, resulting in economic inflation; The financial system is not perfect, in the trend of financial liberalization, bank supervision is absent; The lack of guidance on the flow of surplus capital leads to a large amount of capital flowing to the speculative market and so on.
a few hours after the announcement, the US dollar began a crazy devaluation process. The international foreign exchange market began to sell the US dollar crazily. It lasted for two years, but there was no sign of stopping. As a result, these five great gentlemen (or their successors) had to meet again to discuss measures to prevent the US dollar from falling further. This is the Louvre agreement reached in 1987, and that's later
after the Plaza Agreement, the yen and mark began to appreciate significantly. Since the floating exchange rate system was implemented in 1971, the dollar began to depreciate against the mark and yen. After entering the 1980s, the US dollar strengthened steadily. This chronic rising trend was interrupted again in the middle of 1985, and the yen and mark began to appreciate sharply again. In about three years after 1985, the dollar depreciated sharply. The mark's appreciation has returned to the level of the early 1980s, while the yen has risen to a post-war all-time high. This is an important reason why the yen has become the focus of the Plaza Agreement
the side effects of "Plaza Agreement" and yen appreciation
firstly, yen appreciation has raised the cost and price of Japanese procts. In the past, Japanese procts, which once dominated the world market with high quality and low price, all of a sudden became "aristocrats" in the commodity world. Although the appreciation of the yen has little impact on the export of those irreplaceable procts, a considerable part of Japan's exports can be replaced. The appreciation of Japanese yen will restrain the demand for such procts in the international market, thus hitting the enterprises procing such procts. This kind of attack will spread to other instries through the instrial chain, and may even form a comprehensive inhibition on Japan's economic growth. This is the "yen appreciation depression" that the Japanese government is worried about
secondly, the appreciation of yen reces the import price of Japan. Although this can make Japan, which is short of resources, exchange less expenditure for needed resources, cheap foreign manufactured goods also flow into Japan at the same time, impacting the original instrial structure of Japan. The most affected instries are those labor-intensive instries which are not high-tech but are of great significance to maintaining employment
thirdly, the sharp appreciation of yen has aroused the interest of international speculative capital, making yen the target of speculative capital. Since then, the ups and downs of the yen exchange rate and the turmoil of Japan's stock market have led to the rise and fall of international speculative capital. This has brought new factors of instability to the Japanese economy< The relationship between yen appreciation and Japan's bubble economy after br / > four and "Plaza Accord" is
many research results show that the root cause of Japan's bubble economy is in Japan. These reasons include: after the end of catch-up economic growth, it failed to take the initiative to transform to independent development economic growth, and the system and system were aging; Macroeconomic policy mistakes, the original structure of the economic development has been saturated, but artificially stimulate prosperity, resulting in economic inflation; The financial system is not perfect, in the trend of financial liberalization, bank supervision is absent; The lack of guidance on the flow of surplus capital leads to a large amount of capital flowing to the speculative market and so on.
2. Economic crisis refers to one or more national economies or the whole world economy shrinking (negative economic growth rate) in a relatively long period of time. The general situation is: in the crisis stage, prices plummet; In the depression stage, the price is hovering at a low level; In the recovery stage, the price rises; In the upsurge stage, prices rise rapidly; When the crisis broke out again, prices fell sharply. This cycle is repeated, ups and downs. It is only in the upsurge that the currency depreciates. Why do we say that money is still that money? Because there is a relative surplus of proction. Even if there is more proction, the people can't afford it, the capitalists will destroy it, and the currency will depreciate. Although there is more money, the people still buy that little thing. The total value has not changed much
3. First of all, you need to know that devaluation of national currency is a long-term and inevitable process. Only devalued currency has liquidity, and devaluation promotes liquidity
after that, digital currency is just a flicker. If it is regarded as something, it will not have any value support. If it is regarded as a kind of trade equivalent, it will have no trade value. To put it bluntly, there is no chance to make money now. We need to find a new way to make money. We just want to make each other's money. After the hot spot, we will return to zero, Spamming means that people who are short of money just want to fool around. It will be gone after a while.
after that, digital currency is just a flicker. If it is regarded as something, it will not have any value support. If it is regarded as a kind of trade equivalent, it will have no trade value. To put it bluntly, there is no chance to make money now. We need to find a new way to make money. We just want to make each other's money. After the hot spot, we will return to zero, Spamming means that people who are short of money just want to fool around. It will be gone after a while.
4. Money is controlled by the state
5. Before a man is ten years old, he doesn't talk about it. It's nothing but mischief and ignorance
when he was 13 or 4 years old, he began to have a liking for girls, but at that time he was far away from girls and thought that he hated girls for fear of being ridiculed by his peers
when I was 15 years old, I heard alts say that so and so men are fond of flowers. They mped their girlfriend and the girl committed suicide. He thinks that this person is really vicious. He must be an infatuated man in the future and love only one person all his life< When he was 16 years old, he fell in love with a girl, but he didn't dare to tell her. Still as usual, dirty in the st flying on the playground. Only when the girl came out of the school door, hiding in the second floor window to see her back, he felt that she must be an angel
when he was 17 years old, a girl fell in love with him, but he was far away from her. He only had his own girl in his heart, and he thought it was unfaithful to see other girls
when he was 18 years old, he saw an MTV and was so moved that he wanted to cry. He thought that if his girl lost her eyes, he would like the hero to give her his eyes without hesitation, so that she could see the light
when I was 19 years old, I took the college entrance examination. Finally, when I went to school by train, I felt more and more far away from her. My heart seemed to be hollowed out. I still think that I will never forget her, and I will go to her when I succeed
when I was 20 years old, I thought it was shameful to hear someone tell a dirty joke
at the age of 21, she told him in her reply that she had a boyfriend. I cried secretly all night< When he was 22 years old, he confessed to a girl who said, "you are a good man, but I am still young." He thought, I'm really a good man. He said, "it's OK, I can wait for you." I thought, I won't be like those playful people, I can wait for three or five years
at the age of 23, the girl who said she was young fell in love with a handsome man. He wondered how fast he could have grown up
at the age of 24, he confessed to a girl, who said, "you are a good man, but I am not suitable for you." He wondered for a long time, I'm a good man, why don't you fit me
when he was 25 years old, he pursued a girl, and the girl accepted him. He began to fight happily for the future, he thought, the temporary happiness is only temporary, only hard work, he and she can have a happy future, but six months later, the girl and he broke up. Just because another boy would say something to make her happy. The girl said, "you're a good man. I'm sorry for you." He seems to understand the problem. He's a good man< When he was 26 years old, he began to degenerate and make friends. Dress up fashionable and cool, and graally learn to please girls. Soon, he had a girlfriend. Although he was very kind to her, he knew in his heart that he didn't love her. When he was 27 years old, he broke up with the girl. He said to the girl, "you are a good girl. I am sorry for you."
at the age of 28, he tried one night stand and found that what others could do was the same for himself
at the age of 29, he learned to tell dirty jokes and had fun watching the girls blush
when he was 30 years old, he suddenly found that he had the ability to pursue girls, but he had no ability to love. So he wrote the following words on his QQ. In fact, every boy originally wanted to be a good man with single-minded feelings
in fact, every boy looks at a girl's face instead of her chest. In fact, every boy can't tell dirty jokes. In fact, every boy is eager to love someone forever. But, no girl loves such a boy, they think such a boy is too childish, too old-fashioned, not interesting
as a result, boys began to change and become the kind of girl with a bad smile, cynicism or humor. They began to learn to say sweet words instead of what they wanted to say in their hearts. They began to learn to pretend to care, to send trinkets to girls to please them, and to learn how to pursue and grasp love. They can easily capture a girl's heart, but they will also shed tears with smoke in their mouth in the dark night. When there is love in their heart, no girl has a girl, but they will never have the feeling of love. When they hear women complain that there is no good man in the world, they will not try to be a good man, Just passing by with a smile.
when he was 13 or 4 years old, he began to have a liking for girls, but at that time he was far away from girls and thought that he hated girls for fear of being ridiculed by his peers
when I was 15 years old, I heard alts say that so and so men are fond of flowers. They mped their girlfriend and the girl committed suicide. He thinks that this person is really vicious. He must be an infatuated man in the future and love only one person all his life< When he was 16 years old, he fell in love with a girl, but he didn't dare to tell her. Still as usual, dirty in the st flying on the playground. Only when the girl came out of the school door, hiding in the second floor window to see her back, he felt that she must be an angel
when he was 17 years old, a girl fell in love with him, but he was far away from her. He only had his own girl in his heart, and he thought it was unfaithful to see other girls
when he was 18 years old, he saw an MTV and was so moved that he wanted to cry. He thought that if his girl lost her eyes, he would like the hero to give her his eyes without hesitation, so that she could see the light
when I was 19 years old, I took the college entrance examination. Finally, when I went to school by train, I felt more and more far away from her. My heart seemed to be hollowed out. I still think that I will never forget her, and I will go to her when I succeed
when I was 20 years old, I thought it was shameful to hear someone tell a dirty joke
at the age of 21, she told him in her reply that she had a boyfriend. I cried secretly all night< When he was 22 years old, he confessed to a girl who said, "you are a good man, but I am still young." He thought, I'm really a good man. He said, "it's OK, I can wait for you." I thought, I won't be like those playful people, I can wait for three or five years
at the age of 23, the girl who said she was young fell in love with a handsome man. He wondered how fast he could have grown up
at the age of 24, he confessed to a girl, who said, "you are a good man, but I am not suitable for you." He wondered for a long time, I'm a good man, why don't you fit me
when he was 25 years old, he pursued a girl, and the girl accepted him. He began to fight happily for the future, he thought, the temporary happiness is only temporary, only hard work, he and she can have a happy future, but six months later, the girl and he broke up. Just because another boy would say something to make her happy. The girl said, "you're a good man. I'm sorry for you." He seems to understand the problem. He's a good man< When he was 26 years old, he began to degenerate and make friends. Dress up fashionable and cool, and graally learn to please girls. Soon, he had a girlfriend. Although he was very kind to her, he knew in his heart that he didn't love her. When he was 27 years old, he broke up with the girl. He said to the girl, "you are a good girl. I am sorry for you."
at the age of 28, he tried one night stand and found that what others could do was the same for himself
at the age of 29, he learned to tell dirty jokes and had fun watching the girls blush
when he was 30 years old, he suddenly found that he had the ability to pursue girls, but he had no ability to love. So he wrote the following words on his QQ. In fact, every boy originally wanted to be a good man with single-minded feelings
in fact, every boy looks at a girl's face instead of her chest. In fact, every boy can't tell dirty jokes. In fact, every boy is eager to love someone forever. But, no girl loves such a boy, they think such a boy is too childish, too old-fashioned, not interesting
as a result, boys began to change and become the kind of girl with a bad smile, cynicism or humor. They began to learn to say sweet words instead of what they wanted to say in their hearts. They began to learn to pretend to care, to send trinkets to girls to please them, and to learn how to pursue and grasp love. They can easily capture a girl's heart, but they will also shed tears with smoke in their mouth in the dark night. When there is love in their heart, no girl has a girl, but they will never have the feeling of love. When they hear women complain that there is no good man in the world, they will not try to be a good man, Just passing by with a smile.
6. In the context of modern international finance, to see whether RMB appreciation or depreciation and its impact on the A-share market is actually to discuss whether the US dollar will suddenly end its depreciation and turn to a stable or even appreciation state in the foreseeable future. The external price of a country's currency can not deviate from its national strength reflected by its comprehensive strength for a long time. After the US general election, the practice of excessive devaluation and overdraft of national strength is likely to be corrected by the new administration. By then, the large-scale hot money abroad will flow back this winter
when the discussion on the prospect of RMB appreciation has been lively for a long time, there is another voice: will RMB depreciate significantly? The most immediate feeling of Chinese people is that the RMB is in a state of contradiction between high-speed external appreciation and high-speed domestic depreciation. I don't think it will depreciate in the near future. As for how long it will last, I can't say
when the discussion on the prospect of RMB appreciation has been lively for a long time, there is another voice: will RMB depreciate significantly? The most immediate feeling of Chinese people is that the RMB is in a state of contradiction between high-speed external appreciation and high-speed domestic depreciation. I don't think it will depreciate in the near future. As for how long it will last, I can't say
7. The sub-prime crisis is the sub-prime crisis. The U.S. financial instry, under the condition that the primary (good faith, good repayment ability) loan market is nearly saturated, in order to gain more market share, loans money to the sub-prime market (people with poor integrity, poor repayment ability, no income proof) to buy a house for mortgage. As a result, more and more money is lent out and less repayment is received, Directly lead to the U.S. economic recession. And the United States has a pivotal position in the world economy, so it affects the whole world economy
inflation is closely related to currency devaluation; There are several theories about the causes of its emergence in the world. The most convincing one is that if the money in the market multiplied by the turnover rate of money is greater than the value of goods in the market, there will be more money in the market! Our common people can only buy less with the same money.
the state will suppress inflation by raising deposit interest (making more people deposit) and raising reserves (freezing more money by banks)!
inflation is closely related to currency devaluation; There are several theories about the causes of its emergence in the world. The most convincing one is that if the money in the market multiplied by the turnover rate of money is greater than the value of goods in the market, there will be more money in the market! Our common people can only buy less with the same money.
the state will suppress inflation by raising deposit interest (making more people deposit) and raising reserves (freezing more money by banks)!
8. After the financial crisis in 2008, the currency devalued, gold as a world recognized hedging, hedging tool, and an important function of resisting inflation http://blog.163.com/i3568987712@126/
9. I can only say that RMB should not be devalued at present. The main reason is that RMB is not an international currency at present. It is our country's established direction for RMB to go to the world in the future. If RMB devalues, it will definitely affect RMB's role as an international currency. At present, RMB is mainly pegged to the US dollar, which is very beneficial to the internationalization of RMB.
10. After the first World War, France adopted the policy of paper currency inflation, and the franc devalued. By 1922, its purchasing power had dropped to 43% of 1915, and its price to pound ratio had dropped from 25.22:1 in 1914 to 240.2:1 in 1926. As a result, France had to abandon the gold standard.
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